Park Aerospace (NYSE:PKE) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Park Aerospace shares crossed above their 200-day moving average of $14.48, reaching a high of $18.86 during trading.
• Wall Street analysts have downgraded Park Aerospace from a "buy" to a "hold" rating, indicating a cautious outlook on the stock's future performance.
• The company recently declared a quarterly dividend of $0.125, translating to an annualized dividend yield of 2.8%, although its payout ratio is significantly high at 147.06%.

Park Aerospace Corp. (NYSE:PKE - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.48 and traded as high as $18.86. Park Aerospace shares last traded at $18.15, with a volume of 204,972 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Park Aerospace from a "buy" rating to a "hold" rating in a research report on Monday, May 19th.

Park Aerospace Price Performance

The company has a 50-day moving average price of $16.07 and a 200-day moving average price of $14.48. The firm has a market capitalization of $360.46 million, a PE ratio of 53.38 and a beta of 0.45.

Park Aerospace (NYSE:PKE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter. Park Aerospace had a return on equity of 7.60% and a net margin of 10.98%. The business had revenue of $15.40 million for the quarter.

Park Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, July 1st. Park Aerospace's dividend payout ratio is currently 147.06%.

Institutional Trading of Park Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Park Aerospace in the fourth quarter valued at $47,000. First Horizon Advisors Inc. increased its stake in Park Aerospace by 179.0% in the second quarter. First Horizon Advisors Inc. now owns 3,596 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 2,307 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Park Aerospace in the first quarter valued at $52,000. Legal & General Group Plc increased its stake in Park Aerospace by 161.0% in the second quarter. Legal & General Group Plc now owns 4,685 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 2,890 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Park Aerospace by 515.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 4,282 shares during the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

About Park Aerospace

Park Aerospace Corp., an aerospace company, develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the aerospace market in North America, Asia, and Europe. It offers advanced composite materials, including film adhesives and lightning strike protection materials that are used to produce primary and secondary structures for jet engines, large and regional transport aircrafts, military aircrafts, unmanned aerial vehicles, business jets, general aviation aircrafts, and rotary wing aircrafts.

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